Joint ownership of shares

This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

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Shares may be held in joint names. If you hold shares jointly with another person, such as your spouse, it is assumed that ownership of the shares is divided equally.

Shares can also be owned in unequal proportions. You have to be able to demonstrate this (for example, with a record of the amount contributed by each party to the cost of acquiring the shares). Dividend income and franking credits are assessable in the same proportion as the shares are owned.

Shares held in children’s names

Custodians, such as parents or grandparents holding shares on behalf of minors (under a legal disability), should be treated as the owners of the shares unless the child is considered the genuine beneficial owner.

If a child is the owner of shares, any dividend income should be included on the child’s tax return. Note that in some circumstances the income of a minor is subject to the highest marginal rate of tax. Any excess franking credits may also be refundable.

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We are committed to providing you with accurate, consistent and clear information to help you understand your rights and entitlements and meet your obligations.

If you follow our information and it turns out to be incorrect, or it is misleading and you make a mistake as a result, we will take that into account when determining what action, if any, we should take.

Some of the information on this website applies to a specific financial year. This is clearly marked. Make sure you have the information for the right year before making decisions based on that information.

If you feel that our information does not fully cover your circumstances, or you are unsure how it applies to you, contact us or seek professional advice.